Ex-Chancellor Kwarteng Says He Warned Truss Over Pace of UK Economic Reforms

UK Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit Berkeley Modular, in Northfleet, England, on Sept. 23, 2022. Dylan Martinez/WPA Pool/Getty Images

Former Chancellor Kwasi Kwarteng has said he told former Prime Minister Liz Truss to “slow down” her ambitious economic reforms, which caused market turmoil and eventually led to her resignation.

After Truss became prime minister on Sept. 5, she set out to implement her economic vision for the UK to become a “low-tax, high-growth economy that would take advantage of the freedoms of Brexit.”